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N2.5Bn DSO Allegation: Our Story By Pinnacle Communications

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Pinnacle Communications Limited, the private licensed signal distributor for the Federal Government’s approved implementation of the Transition from Analogue to Digital Terrestrial Television (DTT) Broadcasting in Nigeria, has absolved the firm of alleged complicity and misapplication of money meant for the implementation of the digital switch-over (DSO) project.

The management of the company in a statement issued over the weekend, dismissed as untrue, false and unsubstantiated the media reports linking it with the allegation that N2.5 billion seed grant released to the National Broadcasting Commission (NBC) for the project had been misapplied. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) was reported s investigating the allegation.

In the statement by Dipo Onifade, chief operating officer, Pinnacle Communications stated that the firm has always been transparent in all its dealings with the NBC and it has discharged its obligations on the digital switch-over project in compliance with the terms and conditions of the contract.

A statement by the company read:

ICPC Investigates NBC, DSO :
Statement by Pinnacle Communications Limited

The Management of Pinnacle Communications Limited is constrained to issue this statement as a matter of record in response to the flurry of news reports in the media on Thursday evening copiously quoting  a statement allegedly attributed to the spokesperson of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Rasheedat Okoduwa disclosing that the Commission was investigating the Nigerian Broadcasting Commission over the “misapplication of N2.5 billion seed grant released to the agency by the federal government for its digital switch-over programme” for which the Commission has so far quizzed the Director General, Dr. Ishaq Moddibbo Kawu, and other top management staff of the agency over their alleged involvements in the misapplication of the fund”.

 

In view of the references made to Pinnacle Communications Limited in connection with the investigation and the necessity of providing the correct account of the involvement of Pinnacle Communications Limited in the issues raised, which were deliberately omitted  and/or distorted in the ICPC spokesperson’s alleged statement as widely reported in the media, we hereby state as follows:

 

  1. Pinnacle Communications Limited is the only private licensed signal distributor for the Federal Government approved implementation of the Transition from Analogue to Digital Terrestrial Television Broadcasting in Nigeria in accordance with the 2012 Government White Paper section 11.2 (a) which approved that “more than one signal distributor be licensed in addition to NTA, the public licensed signal distributor. Another signal distributor should be licensed immediately.”

 

  1. In the year 2014, Pinnacle Communications Limited emerged successful bidder out of 9 companies after a rigorous public tender and full compliance with due process. Pinnacle Communications was licensed following payment of the stipulated license fees to the National Broadcasting Commission (NBC), NOT NIGERIAN BROADCASTING CORPORATION as stated in the alleged press release of ICPC spokesperson.

 

  1. Since then, Pinnacle Communications Limited has been a major facilitator of the Digital Switch Over (DSO) implementation process in Nigeria, notably as the broadcast signal distributor for the National Launch of the DSO in Abuja in 2016 at its state-of-the-art Broadcast Centre on Mpape Hill, performed by His Excellency, Yemi Osinbajo, Vice President of the Federal Republic of Nigeria. The Company was also responsible for the Kaduna Digital Broadcast Signal Distribution Centre commissioned in 2017 by the Kaduna State Governor, His Excellency, Nasir Ahmed El-Rufai.

 

  1. This factual background to the involvement of Pinnacle Communications Limited in the DSO project in Nigeria is contrary to the alleged statements attributed to the ICPC spokesperson that the company was “fraudulently recommended to the Minister of Information and Culture for the release of N2.5 billion against the guidelines contained in the White Paper” and further reference to Pinnacle Communications as “an unqualified company.” The 2014 licensing of Pinnacle Communications in the DSO predates the appointment of the current DG of NBC in 2016.

 

  1. The DSO is all about the transition from Analogue to Digital Terrestrial Television (DTT).

Broadcast Engineering is a field in which Pinnacle Communications Limited has earned recognition and patronage for more than two decades of expertise and dependability of world class service and installations across Nigeria.

 

  1. Neither the DSO nor Pinnacle Communications Limited has anything to do with “migration of telephone lines from analogue to digital platforms” as the ICPC spokesperson is alleged to have stated.

 

  1. Pinnacle Communications maintain that the facts and clarifications provided above sufficiently define the context and extent of its involvement in the implementation of the DSO program in Nigeria and the nature of its working relationship with the National Broadcasting Commission (NBC).

 

  1. While noting that the ICPC spokesperson allegedly stated that the Commission was investigating “misapplication of N2.5 billion seed grant released to the agency (NBC) by the federal government for its digital switch-over programme” we wish to clearly emphasize that Pinnacle Communications Limited has not and cannot as a licensee of NBC trespass into the statutory functions of the NBC and/or the Federal Ministry of Information on the implementation of the DSO program.

 

  1. To this extent therefore, all transactions between NBC and Pinnacle Communications have always been transparent and within the official approved operational guidelines and regulations as processed and executed by the NBC and in compliance with the terms and conditions of the license for signal distribution that Pinnacle Communications duly obtained.

 

  1. Having made all the necessary statements in response to the ICPC’s investigations and taking cognisance of the pendency of Suit No FHC/ABJ/CS/779/2018 that Pinnacle Communications instituted in July 2018 in the Federal High Court, Abuja on a related matter against ICPC and 2 others,(NOT RELATED TO STOPPING ANY INVESTIGATION BY ICPC) Pinnacle Communications considers it unprofessional, ill-advised, injudicious, prejudicial and unfair for the ICPC spokesperson to make as alleged random references to disjointed portions of comprehensive submissions to its investigators, clearly skewed to portray Pinnacle Communications Limited as complicit in the alleged or any misapplication” of funds by the NBC, over which Pinnacle Communications have no responsibility or control. Pinnacle Communications challenges the ICPC spokesperson, if the alleged press release was indeed made by her, to publish the full statements made to the ICPC by Pinnacle officials.

 

  1. Moreover, if truly made, the ICPC statement went beyond mere announcement of on-going investigations into the realm of unsubstantiated incriminations in the fashion of trial-by-media that invariably paints a premature and amateur picture of guilt, prior to judicial determination.

   

  1. In the circumstance, Pinnacle Communications Limited shall refrain from further clarification of the muddled statement allegedly issued by the ICPC spokesperson in its firm belief that judicial process will provide the appropriate and fair opportunity to comprehensively and decisively prove its hard-earned reputation as a world class company that, unlike the ICPC spokesperson, upholds integrity, ethics and legality in all its transactions, in accordance with international best practices.
  2. Pinnacle Communications wishes to assure NBC, stakeholders in the DSO, its staff, international and local business associates and numerous clients that it remains committed to meeting all its obligations notwithstanding the malicious statement by the ICPC spokesperson.

DIPO ONIFADE

COO

PINNACLE COMMUNICATIONS LIMITED

 

 


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SLTV to Create Jobs, Shore Nigeria’s Forex- Nwafor

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Metrodigital Ltd., homegrown satellite pay television and owners of Silver Lake Television (SLTV), has promised to impact positively on the lives of Nigerians and shore up foreign exchange for the country.

SLTV to Create Jobs, Shore Nigeria’s Forex- Nwafor

Dr Ifeanyi Nwafor, the company’s managing director who stated this in an interview in Abuja, said that the plan is to create thousands of jobs for the teeming Nigerian youths, adding that dealers were already springing up across the country.

“Each dealer will have his own installer and offices would be opened in this regard. So, SLTV is going to help in creating a lot of jobs and will also create another platform for innovations,” he said.

The businessman said Nigeria’s focus was on leading the world’s industry. He noted that the Nigerian music industry was already making waves worldwide and expressed hope that Nigeria’s indigenous pay-TV industry would also experience the same quickly.

‘’The success will bring in foreign exchange earnings for the country,’’ he said.


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How Virtual Accounts Can Help Businesses Manage Finances Efficiently

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Efficiently managing your business finances isn’t just a task, it’s the key to scaling your business for sustainable growth.

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Several tools exist today to help businesses achieve their financial management goals and establish themselves in a very competitive market.

One such tool is the virtual account, offering several benefits for multinational corporations, startups and SMEs, helping these businesses achieve their financial management goals while scaling sustainably.

In our article, “What is a virtual account and why you need it for your business,” we explained the basic concept of virtual accounts, including the types of virtual accounts, and benefits. Taking it forward with this SeerBit article, we explain the various roles that virtual accounts can play in ensuring businesses achieve efficient financial management.

  • Cash Flow Management

Virtual accounts offer a level of precision and agility that the traditional bank account does not offer businesses in today’s world. Virtual accounts give businesses more control over their funds, as they can easily segregate or compartmentalise funds for various expenses, regulate their cash flow in real-time and ensure safety for the business’ cash reserve. The ability to segregate funds for different short-term needs, such as supplier payments, tax payments, staff payments, and other long-term investments allows the company to make wiser financial decisions and ensures there will always be capital when it is needed.

  • Streamlined Reconciliation

Virtual accounts help to streamline reconciliation for your business, making the process seamless and fast by matching transactions with corresponding records for each unique virtual account. Every virtual account has a unique identifier, making it easy to match both outgoing and incoming transactions on the account with the business’ accounting records. This process is automated, consequently saving valuable time and reducing the possibility of human errors. Hence, you get accurate financial reporting in real time to make informed business decisions, thereby resolving disputes quickly and improving customer satisfaction.

  • Risk Mitigation

Virtual accounts play a crucial role in risk mitigation for businesses by providing an extra layer of security and control over financial transactions. The ability to segregate funds for specific purposes minimises the risk of mixing funds and potential misuse. Additionally, virtual accounts offer customisable access controls and permissions, allowing businesses to restrict access to authorised personnel only, thus reducing the risk of fraud and unauthorised transactions. This heightened level of security not only safeguards financial assets but also enhances trust and confidence among stakeholders, ultimately contributing to more efficient financial management practices.

  • Cost Optimisation

Virtual accounts contribute significantly to cost savings for businesses by streamlining banking operations and reducing associated fees. Through the consolidation of funds into virtual accounts, businesses can negotiate better terms with banks and optimise their banking relationships, potentially leading to reduced transaction costs and account maintenance fees. Furthermore, virtual accounts eliminate the need for maintaining multiple physical accounts, thereby reducing administrative overhead and freeing up resources for other strategic initiatives. By leveraging virtual accounts, businesses can achieve greater efficiency in their financial management processes while simultaneously lowering operational expenses, ultimately boosting their bottom line.

  • Adaptable and Scalable

Adaptability and scalability are other features of virtual accounts that make them effective for managing your business finances. They are customisable and flexible, and this allows them to adapt to whatever preferences or needs that your business has. It also means that you can configure your virtual accounts to meet specific objectives and requirements of your business. So whether you are just starting your business or already growing, virtual accounts can meet every business need at different points, even when you start to scale. This adaptability is good for your business, especially if you’re experiencing fluctuating sales volume.

Conclusion

Virtual accounts are an effective and versatile tool for your business to optimise the financial management process and enhance control and efficiency in the cash management system.

Switch to virtual accounts today!

 

 

 


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Instagram Celebrates African Women in ‘Made by Africa, Loved by the World’ 2024 Campaign

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In celebration of Africa Day on May 25, Instagram has launched its international and pan-African campaign ‘Made By Africa, Loved by the World’. In a first, this year’s Instagram campaign celebrates women of impact, spotlighting four trailblazing women from the continent and diaspora – all of whom have built a global presence through their exceptional talents and passions across sports, entertainment and music.

Now in its fourth year, the women featured in this year’s 2024 campaign hail from Nigeria, South Africa, Kenya and for the first time Egypt. Eniola Aluko, Bontle Modiselle, Victoria Kimani and Tasneem Elaidy tell their inspiring stories in four beautiful short films highlighting their successes, challenges and passions. Shot in collaboration with five rising filmmakers, Haya Khairat from Egypt, Michael Rodriques from South Africa, Nyasha Kadandara from Kenya and London based Nigerian Aaliyah Mckay alongside co-director Shehroze Khan, these films amplify the unique voices and stories of women who are changing the way Africa is viewed on the international stage.

As part of the campaign, Instagram is also partnering with local African content creators to host the third edition of its community challenge, ‘#ShareYourAfrica,’ bringing together emerging and established content creators to create a movement and celebrate what it means to be African.

Speaking about the campaign, Kezia Anim-Addo, Communications Director, Africa, Middle East & Turkey (AMET) at Meta, said, “For the fourth year running, we’re incredibly excited to shine a spotlight and celebrate just some of the amazing women from across the continent and beyond, who are having a remarkable impact globally. These are women who are contributing to positively shaping the female African narrative and inspiring change across football, music, entertainment and culture. At Instagram, we’re deeply rooted in culture and connection, and we know our platform provides the perfect space to showcase passions and creativity, whilst inspiring a worldwide audience.”

Meet the stars of ‘Made by Africa and Loved by the World’ 2024:

●      Bontle Modiselle (South Africa): An award-winning dancer and influential figure in the South African entertainment industry, Bontle has won numerous awards, including a ‘Africa Movie Academy Award’ and has travelled the world showcasing her impressive dance skills

●      Eniola Aluko (Nigeria): A trailblazer in women’s football whose contributions to the women’s game has made her a significant figure in the world of sports. Eniola has played for some of the world’s leading football clubs, and recently made history by becoming the first African female to make the board of Italy’s female top-flight football club FC Como Women.

●      Victoria Kimani (Kenya): A singer, songwriter and entertainer known for her distinctive blend of R&B, Afropop and Hip-Hop. Victoria has carved a successful path in the African music scene and beyond, collaborating with well-known local and global artists, and was once referred to by the Grammy Awards as ‘Kenya’s Best Kept Secret’.

●      Tasneem Elaidy (Egypt): A singer and songwriter with strong vocals whose songs have earned her international recognition, Tasneem started out on social media, releasing cover songs and original music. She went viral after releasing her version of a popular song and today, she has a growing audience of nearly 2 million followers on Instagram, 3 million on TikTok and over 100 million combined views for her music!

To view each short film, follow the four women featured on Instagram or via the Meta Africa Facebook Page.


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